San Francisco-headquartered SR One secured $600M in capital commitments from investors for its second fund.
The fund closed higher than its initial target of $500M. SR One will use the funds to back biotechnology companies that are developing novel medicines.
The new funding brings the firm's total assets under management (AUM) to $1.5B.
- SR One was GlaxoSmithKline's corporate venture capital division until it was spun out in 2020 and has since functioned as an independent investment company.
- Crunchbase data shows that the firm has made 177 investments to date and successfully exited 56.
- In November 2022, it led a $78M Series A round into drug discovery startup Rezo Therapeutics along with Andreessen Horowitz and Norwest Venture Partners.
